One of the most important changes provided by the two codes is the one regarding lowering the VAT – from 24% to 19%, a provision that is to be applied starting with 2016.

For now, it was not yet published the final form in which the Chamber of Deputies adopted the two codes, and also, the President may resubmit the two codes back in Parliament for a new debate.

Of the previous provisions of amending the two codes, one essential amendment regards the taxation of microenterprises, as follows: 1% for microenterprises that have two or more employees; 3% for microenterprises that have only one employee; 5% for microenterprises not employees.

Also, the rate of 3% is to be applied for micro-enterprises that do not fit the first two points and that is in one of the following situations: disolvation followed by liquidation; temporary inactivity; a declaration on their own responsibility for not having activities at the headquarters / secondary offices.

New Code of Fiscal Procedure also includes the following aspects:

  • Interest in case of late payment of tax obligations administered by ANAF to be 0.02% per day of delay, compared to 0.03% currently, given the new penalty for failure to declare. This level corresponds to an annual level of 7.3%. At this level it is added the 7.3% level of delay penalties, resulting in a total level of 14.6% per annum of accessories. By reducing the interest rates, it is ensured the reducing of the burden of the accessories for taxpayers who properly declare the tax liability due;
  • In order to apply the principle of proportionality in terms of accessories in fiscal matters, it is provided a level of 1.2% per month for incensement of penalties or fraction of a month for tax obligations administered by local tax authorities, compared to 2% currently;
  • The tax audit to be notified in all cases, even if this involves communicating at the start of the inspection;
  • It was expanded from 3 to 5 working days from the date of completion of the fiscal inspection the right of the tax payer to submit, in written, a point of view on the tax inspection findings. In the case of large taxpayers, the period is 7 days. The term may be extended for justified reasons with the consent of the head of the fiscal inspection;
  • It was eliminated the extrajudicial stamp tax for the issuance of the tax certificate issued by the tax authorities, at the request of individuals, in order to reduce the administrative burden and the decrease of bureaucracy.